Mississippi Affordable College Savings Program (MACS)

Education is Everything

As a respected educator, you can help families prepare for the escalating costs of higher education by teaching children and their families sound higher education financial planning practices.

Whether your students are preschoolers or high-schoolers, you can help families prepare for the future by providing information on the Mississippi Affordable College Savings Program (MACS).

Any Earnings Can Grow Federal and Mississippi Income Tax-deferred
When a client contributes to MACS, their account earnings have the opportunity to grow federal and Mississippi income tax-deferred until withdrawn.

Contributions and Any Earnings Used to Pay for Qualified Higher Education Expenses Are Federal and Mississippi Income Tax-Free
Earnings on any portion of distributions used to pay for qualified higher education expenses will be free from federal and Mississippi income tax.

Mississippi  Income Tax Deduction
Families may also be eligible for a Mississippi income tax deduction. The amount contributed by a Mississippi taxpayer to MACS accounts during a tax year is deductible from Mississippi adjusted gross income in an amount not to exceed $10,000 for a single return or $20,000 for a joint return for that tax year.

If a nonqualified withdrawal is taken from the MACS Account, the portion of the withdrawal attributable to contributions that were previously deducted for Mississippi income tax purposes, as well as the earnings portion of the withdrawal, will be included in computing the Account Owner's Mississippi taxable income for the year in which the nonqualified withdrawal is paid.

Federal Estate and Gift Tax Benefits
Contributions to MACS may reduce the taxable value of an estate. Contributions to MACS, together with all other gifts from the account owner to the beneficiary, may qualify for an annual federal gift tax exclusion of $13,000 per donor ($26,00 for married contributors), per beneficiary for 2009. If an account owner's contribution to a MACS account for a beneficiary in a single year exceeds $13,000 ($26,000 for married contributors), the account owner may elect to treat up to $65,000 of the contributions, or $130,000 for joint filers, as having been made over a period of up to five years for federal gift tax exclusion.

Read more about MACS's features:

Investment Options
Investment Performance
Learn why it's so important to start now.
 

Help prepare the next generation

Call us toll-free at 1-800-486-3670 to:

  • Meet with a MACS Representative to discuss information for school nights, participation in special school programming, possible sponsorship for school events.

Request these resources:
A Fun Family Activity Book (PDF, 2.4MB)
Program Brochures (PDF, 277KB)

    Check out our FAQ and read the MACS Disclosure Booklet  (PDF, 435KB).

    Remind families they can set up an Automatic Contribution Plan (PDF, 157KB) or use Payroll Deduction (PDF, 45KB) for their contributions (if offered by their employers).

    PDF files require the free Adobe Acrobat Reader. Get it here.

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    The tax information contained on the Mississippi Affordable College Savings Program (the Plan) Web site is not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding tax penalties that may be imposed on the taxpayer. It was written to support the promotion of the products and services addressed in the Web site. Taxpayers should seek advice based on their own particular circumstances from an independent tax advisor.

    The Plan is administered by the Board of Directors of the College Savings Plans of Mississippi and the Mississippi Treasury Department. TIAA-CREF Tuition Financing, Inc. (TFI) serves as Program Manager.

    The investment approaches described are not recommendations and do not take into consideration personal goals or preferences. After evaluating information you consider important in making an investment choice, the ultimate decision is up to you. It is a good idea to revisit your investment strategy periodically as your goals, personal financial situation, and market conditions change.

    Consider the investment objectives, risks, charges and expenses before investing in the Plan. Please call toll-free 1-800-486-3670 for a Disclosure Booklet containing this information. Read it carefully.

    Before investing in a 529 plan, you should consider whether the state you or your designated beneficiary reside in or have taxable income in has a 529 plan that offers favorable state income tax or other benefits that are only available if you invest in that state's 529 plan.

    The State of Mississippi, its agencies, TIAA-CREF Tuition Financing, Inc., Teachers Insurance and Annuity Association of America and its affiliates do not insure any account or guarantee its principal or investment return. Account value will fluctuate based upon a number of factors, including general market conditions.

    The Plan Web site is for informational purposes only, and does not constitute an offer to sell or solicitation of an offer to buy any security that may be referenced on the site. Such offer or solicitation can be made only through the Disclosure Booklet.

    The Plan Web site contains links to other Web sites. Neither the Plan nor TFI and its affiliates are responsible for the content of those other Web sites. The accuracy of information on those sites cannot be confirmed.

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    © 2010 TIAA-CREF Tuition Financing Inc.